Claro Advisors LLC Purchases 232 Shares of Eaton Co. plc (NYSE:ETN)

Claro Advisors LLC increased its holdings in shares of Eaton Co. plc (NYSE:ETN) by 4.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,640 shares of the industrial products company’s stock after acquiring an additional 232 shares during the quarter. Claro Advisors LLC’s holdings in Eaton were worth $1,869,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Breakwater Investment Management lifted its stake in Eaton by 1,560.0% in the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 78 shares during the last quarter. Proffitt & Goodson Inc. purchased a new position in shares of Eaton during the 2nd quarter valued at $29,000. LGT Financial Advisors LLC bought a new position in shares of Eaton during the 2nd quarter worth $33,000. West Financial Advisors LLC purchased a new stake in Eaton in the 3rd quarter worth about $35,000. Finally, DiNuzzo Private Wealth Inc. bought a new stake in Eaton in the 2nd quarter valued at about $37,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ETN. Wells Fargo & Company increased their target price on shares of Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Raymond James lowered their target price on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a report on Monday, September 9th. Mizuho increased their target price on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Sanford C. Bernstein assumed coverage on Eaton in a research note on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price objective on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $374.00 target price on shares of Eaton in a report on Friday, November 1st. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $357.83.

Eaton Stock Down 0.8 %

Shares of ETN opened at $358.99 on Friday. Eaton Co. plc has a 1 year low of $224.52 and a 1 year high of $373.49. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. The stock has a 50 day simple moving average of $335.82 and a two-hundred day simple moving average of $321.37. The firm has a market cap of $141.87 billion, a P/E ratio of 38.19, a P/E/G ratio of 2.85 and a beta of 1.01.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. The company had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm’s revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.47 EPS. On average, analysts forecast that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be issued a $0.94 dividend. The ex-dividend date is Monday, November 4th. This represents a $3.76 annualized dividend and a dividend yield of 1.05%. Eaton’s dividend payout ratio is currently 40.00%.

Insider Activity

In related news, insider Craig Arnold sold 61,569 shares of Eaton stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the transaction, the insider now directly owns 506,360 shares of the company’s stock, valued at $182,780,769.20. The trade was a 10.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gregory R. Page sold 4,000 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the sale, the director now directly owns 51,422 shares of the company’s stock, valued at $17,241,796.60. The trade was a 7.22 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 68,705 shares of company stock valued at $24,516,346. Insiders own 0.53% of the company’s stock.

Eaton Company Profile

Eaton Corporation plc operates as a power management company worldwide. The company’s Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality and connectivity products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services, as well as hazardous duty electrical equipment, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems.